I've started playing splinterlands game. Its a fun game and I'm trying to play as much as possible. Mostly I loose battles so my winning progress is not good. I don't if there is anyway out that can show my winning ratio.
My cards are in level one and some people have helped me with cards delegation. I've also got some cards as gift so this is a big help. I'm trying to learn the game. I have completed more than one month but I have many things that I don't know. So it's a long term learning for me in the splinterlands game. I appreciate the help I get from @nozem01 and @untilwelearn
I also tried to understand the token economy for sps coin. This is the currency of splinterlands game and it's also available on many exchanges. We can earn this coin through game reward. I see a boost option also in game but for me it's 1x only. I was shocked to see the all time high price and the current price for sps.
The value is down by 99% and this is shocking for me. I don't why this has happened with this coin price. I'm liking the game and trying to figure out the token economy in detail. I'm not sure if there is any part with coin which has caused the bigger price drop.
I've not decided about the investment on this coin but I'm in the process of that. I'll see if I can buy sps and how this will make my gaming better. From investing side it looks good but I will take sometime to decide my strategy.
As I do invest on hive so side by side I can also invest some amount on sps coin. Any suggestions would help a lot
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There was a time when SPS was new and only very small supply was available. Also, SPS gave more SPS airdrop and staking rewards. So the inflation got higher and higher and the price dropped during the bear market.
Once all SPS are distributed, this could change, because you can burn SPS for DEC which you need to buy things. Also, when DEC is above 1 USD per 1000 (better said 975), you can actually make money by burning SPS for DEC.
We're far away from this good situation, but in theory it should work with either new players or the company stille existing 2 years down the road.
Keep enjoying the game!
I got to know that this sps coin was launched in 2021 and that was it's peak and now it's price is not even one cent. Do you think it will reach its all time high price again?
I couldn't understand this. Could you please explain this as I don't know the burn plan and how it benefits
There is a burn mechanic built into the game where you can burn SPS to get more DEC. This is always 1$ worth of SPS for 975 DEC. If the DEC value is now high enough, you actually get more than 1$ back. This way, you would earn money by burning SPS. Theoretically, because everyone could now make money by burning, DEC price will decrease again as more is minted.
This would increase the SPS price while balancing DEC. But because we still have more selling pressure to DEC and there's still too much DEC around, we don't reach that 1$ value at the moment. That's a problem. The former CEO tried a lot of quick fixes and market moves that didn't work out. We're now on a much slower, but more sustainable path. Still with problems, but the company seems to tackle them one by one, which I consider good.
I checked that the current price for Dec is low and we can get 1300 dec for $1 and 1000 dec is worth around $0.73 so price is low and not the right time to burn for SPS. Right?
On the other hand if dec price is high which is more 1k tokens worth more than $1, it can be good time to burn for SPS and one can earn this way. Did I say it correct?
Yes, that is correct. You always get back 975 DEC for 1 USD of SPS. If now 975 DEC are worth more than 1 USD, you can buy more SPS than you burned before.
This makes sure that the DEC price would not increase too much and is considered rather stable. However, so far we only reached this point a handful of times at max since the logic has been implemented that way.
Such ups and downs in assets are part of market behaviour, what matters most is how strong a project is in its fundamentals. Investing in SPS is no doubt a good idea but I would say go a little slow and invest in small amounts with in-game rewards because certainly no one knows the bottom but this much is known that this project has potential. So whatever your investment is, it should not be for short-term gains.
Splinterlands is a strong project by its fundamentals and this is not a new project. It means that the project has got a bigger community and they should be holding the coin. I second you that up and down is the part of market but such a big dump is unexpected.
Do you think thay this coin will recover in bull cycle and reach it all time high again? If that is a possibility, the price now brings a big time investing opportunity but it's not any sort of financial advice. I'm still learning about the project and studying about
Sach sunna chahte ho to Nahi mujhe nahi lagta ki ye is bull run mein all time high tak jayega😅 PARR iska ye matlab bilkul bhi nahi hai ki is project mein dam nahi hai. Ye project jabardast hai undoubtedly par jaisa ki maine pahle bhi kaha, mujhe lagta hai ki ye short term gains ki investment nahi hogi. It will take time but surely go beyond ATH. Thoda thoda invest karte raho par aur gire to negative mat hona, ye kumbhkaran hai pata nahi kab uthega parr jab uthega sabko kha jayega.
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STOPYour boost should be more than 1x because the guild account is delegating some SPS to you since you joined...
Many gaming coins are down 99% and it isn't a pretty picture at all, still since the bottom SPS has recovered nicely with many upgrades and improvements to the game, eventually this has to mean the price will go up again
You're right, my boost is higher and the current is 12.66x in Bronze league. Thanks for sps delegation and I'm planning to buy sps coins soon.
I figured out that with more sps, the reward in game gets better and the more sps we hold as stake in game brings better in game reward.
I too think that Sps will grow and it has potential. Now the Bull market will show how it grows during bullrun.
Thanks again for your support mate
These are the amounts of SPS staked needed for each league. Having much more doesn't mean you will earn 5x your normal earnings
Thanks for this, with this if I play in higher league I would need more sps. Its like having high level cards will also need more sps stake. I've saved this and it's informative
Nice review, welcome to the family...
Glad you liked it. Thanks 👍